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What A Reverse Mortgage Calculator Won’t Tell You

What A Reverse Mortgage Calculator Won’t Tell You

This is a discussion on What A Reverse Mortgage Calculator Won’t Tell You within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; While a free reverse mortgage calculator might be able to give you an idea of how much you could borrow, ...

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Mortgage Know-How A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower.

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01-23-2008, 02:09 PM

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What A Reverse Mortgage Calculator Won’t Tell You

While a free reverse mortgage calculator might be able to give you an idea of how much you could borrow, none will be able to tell you something that is far more important, and that is how much equity will be left in your home after a ...

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